Many times, people grapple with the biggest property dilemma; to move or to extend. If you need more room, there are a couple of decisions you should make. Whether it is a new family member, or you need more room, you will have to decide on how to get the extra space. Some will opt for a new home, while others will choose a home extension.
When you weigh the cost of upsizing, you will want to stick to an extension. First, there is the problem of sourcing for a buyer to buy your old home. Then there is stamp duty to worry about alongside other hidden fees that mount up. A study done by Lloyds Bank shows that the cost of moving went up by 9 percent between 2015 and 2016. This was put down to high property prices which then pushed the cost of estate agents up and the stamp duty. Here are the reasons that could make extending the right move.
Adds Value
There is now a new calculator that can help homeowners estimate the value of an extension. It is based on the latest Office for National Statistics, allowing you to measure the average cost of your property per square meter. Reports show that a medium-sized extension of about 25 sq. Meters can give a value of up to 59,000 Euros.
However, this is just a guide, with the actual extension value depending on the quality of the construction company employed, the rooms extended, and the location. The value will be in flux constantly. Elements including the economy, size, and location can tip the scales extensively.
When it might seem like a small project, the home extension can add financial flavor to your home value. Adding a loft conversion or a bathroom shows could increase the value of your property by over 20 percent. The project needs meticulous planning, practicality, and enough funds.
Design Control
Extending your home is considered a permitted development that gives you full access to design options. You will not need planning permission as long as the right conditions are met. Extending your home is the perfect way to accommodate practical design without experiencing huge expenses. With an extension, you can have a proper office or even a gym.
Before the calculation of the construction cost is completed with any degree of precision, you have a good window of refining the design. You get the freedom to research materials, mull over different exciting products, and peruse the latest trends in the bathroom or kitchen fittings.
Extensions allow you to get up to speed on options for timber cladding, underfloor heating, among others. With a home extension, you get the needed design control and input. You do not have to settle for what a different designer considered good. Instead, you discuss the ideas you need to be incorporated with an architect. You get to compliment your needs and lifestyle perfectly.
Make the Most out of Outdoor Space
Making a home look more modern, lighter, or get an open plan are just some of the reasons people choose to remodel their homes. Did you know you can transform your home by extending your garden or driveway? Doing so adds space to your indoors. For instance, a conservatory could add extra eating space. A porch could also be significant storage space and add security benefits.
If you are weighing options and trying to decide between moving and having your home extended, remember that extensions allow you to live in the area you love and give you the freedom to choose how you want your space to look. It means you spend less by not relying on estate agents and indecisive sellers.
